Teck Resources - TECK Stock Forecast, Price & News

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, Energy, and Corporate segments. The company's principal products include steelmaking coal; copper, gold, blended bitumen, lead, silver, molybdenum, zinc, and zinc concentrates; chemicals, fertilizers, and other metals. It also produces indium and germanium. In addition, the company holds interest in Frontier oil sands projects in the Athabasca region of Alberta; and owns interests in exploration and development projects in Australia, Chile, Ireland, Mexico, Peru, Turkey, and the United States. The company was formerly known as Teck Cominco Limited and changed its name to Teck Resources Limited in April 2009. Teck Resources Limited was founded in 1913 and is headquartered in Vancouver, Canada.

Analyst Upgrades and Downgrades

TECK has been the subject of a number of research reports. Canaccord Genuity Group raised shares of Teck Resources from a "hold" rating to a "buy" rating in a research note on Thursday, July 28th. Morgan Stanley restated an "equal weight" rating on shares of Teck Resources in a report on Thursday, June 23rd. CIBC upgraded shares of Teck Resources from a "neutral" rating to an "outperform" rating in a report on Wednesday, June 15th. Canaccord Genuity Group upgraded shares of Teck Resources from a "hold" rating to a "buy" rating and increased their price target for the company from C$42.00 to C$46.00 in a report on Thursday, July 28th. Finally, Raymond James dropped their target price on shares of Teck Resources from C$60.00 to C$56.00 in a report on Thursday, July 28th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $49.98.

Teck Resources Price Performance

Shares of NYSE:TECK traded down $0.64 on Friday, reaching $33.97. The company's stock had a trading volume of 113,770 shares, compared to its average volume of 5,157,414. Teck Resources has a 52-week low of $19.32 and a 52-week high of $45.90. The company has a market cap of $17.72 billion, a P/E ratio of 4.30, a PEG ratio of 1.14 and a beta of 1.15. The company has a 50-day simple moving average of $31.06 and a 200 day simple moving average of $36.39. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.25 and a current ratio of 1.82.

Teck Resources (NYSE:TECK - Get Rating) (TSE:TECK) last issued its quarterly earnings data on Wednesday, July 27th. The basic materials company reported $3.25 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $1.24. Teck Resources had a net margin of 28.90% and a return on equity of 23.73%. The business had revenue of $5.79 billion during the quarter, compared to analysts' expectations of $5.59 billion. During the same period last year, the company posted $0.51 EPS. The business's revenue was up 126.2% on a year-over-year basis. As a group, equities research analysts anticipate that Teck Resources will post 6.86 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be paid a dividend of $0.097 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.39 dividend on an annualized basis and a dividend yield of 1.14%. Teck Resources's dividend payout ratio is presently 4.97%.